Nigeria’s Senate has approved the sum of N5.079 trillion as a revenue target and N706.4 billion as budget for the Nigeria Customs Service (NCS) in the 2024 fiscal year. The Red Chambers’ approval of the proposals followed the consideration of a report presentation by the Chairman of the Committee on Customs, Excise, and Tariff, Senator […]
Revenue Agencies
FIRS To Parley CBN, Works Ministry On Tax Credit Scheme For Construction Projects
The Federal Inland Revenue Service (FIRS) has unveiled plans to meet with the Central Bank of Nigeria (CBN) and Ministry of Works this Friday with a view to reviewing about N2.59 trillion tax credit scheme for road repairs and construction in the country. The Chairman of the federal revenue service, Dr. Zacch Adedeji, during a […]
No Plans To Tax Online Content Creators, Skit Makers – FIRS
The Federal Inland Revenue Service (FIRS) has debunked some media reports insinuating that is planning to impose taxes on online content creators and skit makers, saying that it has no intentions of imposing taxes on online content creators. The News Agency of Nigeria (NAN) broke the news on Monday based on discussions with FIRS staff, […]
MultiChoice Subsidiaries To Pay $37.3Mn Tax To FG
MultiChoice Group (MCGJ.J), Africa’s largest pay TV conglomerate, disclosed on Thursday that its subsidiary entities in Nigeria had settled a tax dispute with Nigerian tax authorities, thereby agreeing to pay about $37.3 million to the Federal Inland Revenue Service (FIRS). In 2022, the Federal Inland Revenue Service (FIRS) froze MultiChoice Nigeria’s accounts due to its […]
Photo News Of NLNG Managing Director – Mr. Philip Mshelbila – Visits FIRS’ Executive Chairman – Dr. Zacch Adedeji At ‘Revenue House’ In Abuja
Photo Caption The Managing Director, Nigeria Liquefied Natural Gas (NLNG), Mr Philip Mshelbila (left); and Executive Chairman, Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji; when Mshelbila led the NLNG’s management team on a visit to the ‘Revenue House’ in Abuja on Wednesday
FG Mulls Plans To Transform NYSC Into Revenue Agency
The Federal Government has mulled a new plan to reform the National Youth Service Corps (NYSC) and make it one of the revenue generation agencies for the country. The Minister of Youth Development, Dr. Jamila Bio Ibrahim, who gave this hint when he featured as a guest on Channels Television’s Sunday Politics programme, said, while […]
Reps Grill NCS Over Alleged Non-Submission Of 3 Years’ Financial Statements
….As Service Trains Officers On Harmonized System Coding The House of Representatives’ Public Accounts Committee on Tuesday queried officials of the Nigerian Customs Service (NCS) over alleged non-submission of audited financial statements for 2016, 2017, and 2018 financial years to the Auditor-General of the Federation. The Comptroller-General of Nigeria Customs Service (NCS), Mr. Adewale Adeniyi, […]
Court Adjourns Suit On Proof Of Vehicle Ownership Levy
A Federal High Court sitting in Abuja on Tuesday adjourned a suit seeking to stop the imposition of an annual levy for a certificate of proof of vehicle ownership in the country till March 4, 2024. The Federal Government had in June 2023 introduced an annual fee of N1,000 payable by all motorists for Proof […]
PwC Hinges Nigeria’s Economic Growth On 7 Determinants In 2024
….Forecasts 38.8% Poverty Level In 2024 Leading professional services firm, PwC Nigeria, has released its latest Nigeria Economic Outlook, highlighting the seven key trends that will shape the nation’s economic trajectory in 2024. PwC Nigeria’s report titled ‘Nigeria Economic Outlook 2004’ projected a marginal decline in inflation and 3.1% rise in GDP, and notes that […]
Presidential Committee Proposes Tax Payment Through USSD, Others
The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr. Taiwo Oyedele, on Wednesday hinted that the Committee had proposed the use of Unstructured Supplementary Service Data (USSD) and other digital channels for the payment of taxes and levies across the three tiers of government in the country. Oyedele, who disclosed this […]